Mutual of America Capital Management LLC Trims Stock Position in Performance Food Group Company (NYSE:PFGC)

Mutual of America Capital Management LLC cut its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,930 shares of the food distribution company's stock after selling 2,854 shares during the period. Mutual of America Capital Management LLC owned approximately 0.09% of Performance Food Group worth $11,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Performance Food Group during the 4th quarter valued at $164,471,000. Junto Capital Management LP boosted its holdings in Performance Food Group by 419.9% in the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company's stock valued at $118,884,000 after acquiring an additional 1,135,641 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Performance Food Group by 30.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company's stock valued at $178,506,000 after acquiring an additional 498,554 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Performance Food Group during the fourth quarter worth about $35,250,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Performance Food Group by 55.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,003,697 shares of the food distribution company's stock worth $78,921,000 after purchasing an additional 357,153 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PFGC shares. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley upped their target price on Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday. UBS Group upped their target price on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Barclays increased their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Finally, Truist Financial cut their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $0.73 during midday trading on Thursday, hitting $99.18. 2,769,996 shares of the company were exchanged, compared to its average volume of 1,139,539. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. The firm has a market capitalization of $15.48 billion, a P/E ratio of 41.32, a PEG ratio of 1.40 and a beta of 1.15. Performance Food Group Company has a 52 week low of $63.24 and a 52 week high of $100.26. The firm's 50 day moving average price is $88.36 and its two-hundred day moving average price is $84.12.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, equities research analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the completion of the transaction, the insider owned 60,952 shares of the company's stock, valued at $5,486,899.04. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Howard Hoskins sold 19,113 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the completion of the sale, the insider owned 152,293 shares of the company's stock, valued at $13,333,252.15. The trade was a 11.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,837 shares of company stock worth $6,901,248. 2.80% of the stock is currently owned by insiders.

Performance Food Group Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.